Congratulations on beginning your search for your next new home. A new home means new beginnings and challenging experiences you aren't always used to. Well, you are in luck. This guide is set up to aid you in your search. It does so by framing, for you, the few things any homebuyer must solidify to become a homeowner. Determining the Price Range of Your New Home. Otherwise known as financing, defining what you can afford is a vital step toward home ownership. All too often this step is put off until you have become emotionally attached to a particular dream, before understanding when it is wise to start dreaming. Therefore, why not "stop the insanity?" Additionally, this will deter the heartaches you might feel if you find out that you should not or that you could not have the new home you want. It is always helpful to take advice and solace from a financial institution. Additionally, you can be armed with a pre-approval, or even an approval, for the price range you desire. A financial institution can help you to tailor your financing to fit your needs. If you plan on moving again within ten years then one plan may look brighter to you than another. Furthermore, a helpful loan advisor can help to explain how your current debt plays into the picture, as well as ways to alleviate some of the hoops you may have to jump through when not addressing your finances, first. Remember that taxes and insurance will apply to the calculations they are looking for, in order to figure out where you should be looking. However, also remember that tax deductions play a major role in what you will finally pay per year. Location Location Location Now that you have gotten the financing figured out you have a better idea than 80% of the homebuyers out there. Now you are ready to look into location. Some of the questions to ask yourself may be "am I a city person, a country person, or somewhere in between?" Do you need easy access to the airport? Do you make frequent trips downtown? Possibly you will be commuting outside of the Greater Louisville Area on a regular basis. Nothing can better allow you to get a feel for the different locations of the area than to hop in the car and just begin driving around. Be sure to bring this guide with you and take notes. When taking notes, it is always helpful to make notes on your map to eliminate locations that do not appeal to you. This will end unnecessary revisits to areas that you have already marked as "just not you." Also, it will allow you to drive from one location directly to another, in order to do a more immediate comparison between locations. Won't You Be My Neighbor? Greater Louisville offers you some great new home communities. Some have woods. Others have water. Many Greater Louisville neighborhoods are built around golf courses. In short, no matter what combination you are looking for, your location in Louisville is going to have what will fit your lifestyle and budget. Take a drive through the communities at first. Take plenty of notes. Make sure to record all of the good points and how they match up to what you have in mind. And make more notes in this guide once again to mark the communities that are in your favor. Compare and eliminate. Repeat, if necessary. Is Anybody Home? Now is the time to sit down at home and make a list of needs, wants, and dreams. Usually, needs are things about a home that you must have. End of question. These are the basics you can't do without. The wants are some of the nice things that you have had recently and a few things that you expect in your new home. Dreams are just that. If your dreams fit in with your financing, location, and community, then you are in luck. If you are looking towards retirement, then maybe a first floor master suite, a patio home, ranch, condominium, or town-home may be in your future. Say your family is growing, then a more traditional two-story with accommodating bedrooms that are closer together with space to grow. Furthermore, if investment is your goal in a new home, you may find homes with cutting edge designs, lasting long into the future. So back to the car you go. Take time to walk through several homes. And again, take notes in this guide. Always remember that what you see is not all that is available. So, be sure to tell what you have in mind, down to the last detail, and see if they have anything that fits your notion of what home means to you. Also, don't forget that the colors, decoration, or specific design are all changeable. Maybe they do not reflect what you want, but with a little tinkering, this home may be the right one for you. Once you start to look around for a new home-style, you will find large kitchens, master suites, master baths, and a push towards a great-room design as well as patio homes, condominiums and just about anything to fit any lifestyle. Since your lifestyle is becoming more casual everyday, today's homes reflect rooms for relaxing, entertaining, and congregating in general. Your Place in the Sun Almost home! So, now you have found what fits you in a financing plan, location, community, and a home that fits you. It is time to put that idea on a piece of ground. Your place in the sun. And since you are already looking at homes, it is a good time to walk some earth. Pay attention to the direction the sun rises and sets on the horizon. Do you want a large backyard or a larger front yard? Is a wooded home-site in your future? Or perhaps you would rather enjoy a view of the 10th green? Are you looking for easy-in-easy-out of your new neighborhood, or would you rather be tucked away at the end of a cul-de-sac? Well, it is all out there for you to choose. The one thing to remember when looking at a piece of ground is that the home will sit higher than the current home-site shows. There is a lot of backfill and top soil that goes in before your new home is finished. Your Builder or Seller Make sure to choose someone that you can trust. Also be aware of that individual's background. Luckily enough, there are a number of resources at your fingertips. First, take time to talk to the builder or seller. Ask what awards they have won and what their company philosophy is. See if you can talk to other people who have had their homes built by this person, or ask a purchaser how helpful that this seller has been for them. What is a Registered Builder? Registered Builders are committed to the Home Builders Association's Code of Ethics, and are required to provide a written warranty for your home. The Registered Builder Committee functions as a review board for all conciliation of disputes arising from disagreements between builders and homeowners, over the correction of the occasional defect that may occur. Registered Builders are required to let their buyers know who will responsible for correcting problems with such things as major appliances. Most Registered Builders back their warranties with insurance that guaranties correction of unwarranted- for defects even if the Builder is unable to. In the Registered Builder Program, disputes arising over warranty coverage are conciliated for a nominal cost to the homeowner by an impartial third party--far more efficiently, quickly and less emotionally and financially draining than a drawn out lawsuit. Thus, if a problem should arise with a new home, the homeowner has dependable recourse if it was built by a Registered Builder of the Home Builders Association of Louisville. Otherwise, the homeowner is on their own. The Home Builders Association of Louisville has no jurisdiction over non-members.
